BANKRUPTCY – PUNISHMENT FOR FAILURE?
Entrepreneurs know they must limit their exposure to risk but they also know there is no way to eliminate it entirely, writes senior counsel Ross Maguire in The Sunday Business Post.
Tag: liquidation
VOLUNTARY STRIKE OFF
The Companies Registration Office in Dublin have just announced proposed changes to their Voluntary Strike Off procedure, which are due to take effect from 1st May, reports Sean Kavanagh of CFI.
BANKRUPTCY
Ivan Yates’ former party Fine Gael is planning to unveil plans within the next few weeks to overhaul the country’s archaic bankruptcy laws in a bid to boost enterprise and job creation, The Sunday Tribune reports.
YO, HO, BLOODY HO…
If any Machiavellian spin doctor had bad tidings to announce, this would have been the week to get them out there. The media preoccupation with the possible ramifications of the government’s four-year austerity measures and the likely impending bailout left little room for other business stories in the Sunday broadsheets.
INSOLVENCY COSTS
The days of the €800 an hour insolvency practitioner working on realising some residual value from property assets could be numbered. A deal with a UK firm brokered last week could bring the Irish to heel, The Sunday Tribune reports.
MERLIN BOOKS
Publishing companies will be asked in the coming days to bid for the back catalogue of the now defunct Merlin Books, according to The Sunday Business Post.
INSOLVENCIES
Corporate insolvencies could rise by 30% to more than 2,000 this year and personal insolvencies could “explode” this year according to Business Pro, the publisher of Stubbs Gazette.
AVALANCHE OF COMPANY FAILURES CONTINUES
“More Than 2,000 Irish Companies Set To Fail This Year.” It is the sort of headline that once might have appeared on the front page of the Sunday Business Post but space for bad business news is at such a premium these days, it only made page six of last weekend’s edition. As what it called the “deep malaise” in the property and retail sectors spread to all areas of the economy, the Business Post carried a report from accountancy firm FGS which predicted a new record of company failures in 2010. The number of firms that will go into liquidation, receivership and examinership will rise by more than 500 on last year – the rate of insolvencies is increasing by 8 per cent a quarter and there is no sign of it slowing down.
BROADWORKS
Creditors’ meetings will take place this week for Broadworks Communications and its parent firm, BWC Investments, which had deals with property developers to lay fibre-optic cabling in new developments.
SYSTEMHOUSE TECHNOLOGIES
An Irish technology security company has collapsed with the loss of 15 jobs and debts of almost €2m.